Browsing by Subject "Stochastic frontier estimation"

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    Money and productive efficiency: evidence from a high-inflation country
    (Routledge, 2007) Başçı, E.; Mahmud, S. F.; Yucel, E. M.
    This paper examines how money balances held by manufacturing firms affect their efficiency in generating sales revenue in a high-inflation economy. The analysis employs data from Turkish firms to estimate a stochastic frontier model, finding a strong positive association between the firms' money holdings and their efficiency. However, the role of money balances seems to diminish as firms hold higher raw material inventories. © 2007 M.E. Sharpe, Inc. All rights reserved.